The Chartley Foundation
REPORT AND FINANCIAL STATEMENTS
31 Lkcember 2020
|TRUSTEES'ANNUALREPORT||
|---|---|
|STATEMENTOFTRUSTEES'RESPONSIBILITIES|5|
|INDEPENDENTAUDITORSREPORT|6|
|STATEMENTOFFINANCIALACTIVITIES|10|
|BALANCESHEET|11|
|STATEMENTOFCASHFLOWS|12|
|ACCOUNTINGPOLICIES|13|
|NOTESTOTHEFINANCIALSTATEMENTS|15|
|APPENDIXI|`20 `|
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|CharityNumber|l154637|
|---|---|
|CompanyNumber|8686083|
|Status|The ChartleyFoundationisa companylimited by guarantee|
|Trustees/CompanyDirectors|OEDJohnson|
||AAReeves|
||FMWFitzherbertBaronStafford|
||REPoole|
|Auditors|RSMUK AuditLLP|
||StPhilipsPoint|
||TempleRow|
||Binningham|
|Bankers|Handelsbankenple|
||lLakeside|
||FestivalPark|
||Stoke-on-Trent|
|LegalAdvisers|FreethsLLP|
||FederationHouse|
||StationRoad|
||Stoke-on-Trent|
|InvestmentManagers|SorbusPartnersLLP|
||41aEastgate Street|
||Stafford|
|RegisteredOffice|ChartleyHall|
||Stafford|
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||||||Total|
|---|---|---|---|---|---|
|||||Total|YearEnded|
|||Unrestricted|Endowment|31December|31December|
|INCOME|Note|Funds|Funds|2020|2019|
|||£|£|£|£|
|Investmentincome||208,460||208,460|341,799|
|TOTALINCOME||208,460||208,460|341,799|
|Charitableactivities|2|285,996||285,996|92,752|
|Investmentmanagementcosts|3||78,528|78,528|77,082.|
|TOTAL EXPENDITURE||285,996|78,528|364,524|169,834|
|Netgainsoninvestments|5||65,921|65,921|1,055,424|
|NETINCOMEANDNET||||||
|MOVEMENTINFUNDS||||||
|FORTHEYEAR|9|(77,536)|(12,607)|(90,143)|1,227,389|
|Totalfundsbroughtforward||922,675|10,025,328|10,948,003|9,720,614|
|TOTALFUNDS CARRIED||||||
|FORWARD|9|845,139|10,012,721|10,857,860|10,948,003|
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|||2020|2019|
|---|---|---|---|
||Note|£|£|
|FIXED ASSETS||||
|InvestmentFund|5|10,012,721|10,025,328|
|CURRENTASSETS||||
|Cashatbankandinhand||1,267,238|1,349,828|
|LIABILITIES||||
|Creditorsfallingduewithin oneyear|6|(337,312)|(398,739)|
|Netcurrentassets||929,926|951,089|
|Totalassetslesscurrentliabilities||10,942,647|10,976,417|
|Creditorsfallingdueafteroneyear|7|(84,787)|(28,414)|
|TOTALNETASSETS||10,857,860|10,948,003|
|THEFUNDSOFTHECHARITY||||
|Endowmentfunds|9|10,012,721|10,025,328|
|Unrestrictedfunds|9|845,139|922,675|
|TOTALCHARITYFUNDS|9|10,857,860|10,948,003|
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|||2020|2019|
|---|---|---|---|
||Note|£|£|
|CASHFLOWS FROMOPERATING ACTIVITIES||||
|Net(expenditure)incomeforthe reportingperiod||(90,143)|1,227,389|
|lnvestmentlosses||(65,921)|(I ,055,424)|
|(Decrease)/increase/increditors|6&7|(5,054)|(63,196)|
|Investmentincomereceived||(208,460)|(341,799)|
|NETCASHUSED IN OPERATINGACTIVITIES||(369,578)|(233,030)|
|CASHFLOWSFROMINVESTING ACTIVITIES:||||
|Investmentincome||208,460|341,799|
|Proceedsfromsaleofinvestments||2,713,260|1,418,699|
|Purchaseofinvestments||(3,098,464)|(582,009)|
|Cashinvestment||463,732|(759,608)|
|NETCASHFROMINVESTING ACTIVITIES||286,988|418,881|
|Decreaseincashandcash||||
|Equivalentsinthereportingperiod||(82,590)|185,851|
|Cashandcashequivalentsatthebeginningofthe||||
|reportingperiod||1,349,828|1,163,977|
|CASHANDCASHEQUIVALENTSATTHEEND||||
|OFTHEREPORTNGPERIOD||1,267,238|1,349,828|
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|||Yearended|Yearended|
|---|---|---|---|
|||31December|31December|
|||2020|2019|
|||£|£|
||Equities
Bonds|203,276
3,663|307,856
31,882|
||Cash|1,521|2,061|
||Total|208,460|341,799|
|2|EXPENDITUREON:CHARITABLEACTIVITIES|||
||UNRESTRICTED|||
|||Yearended|Yearended|
|||31December|31December|
|||2020|2019|
|||£|£|
||**Grants awarded: **|||
||Game&WildlifeConservationTrust|65,649|(1,650)|
||StaffordshireCricket|50,000|(12,780)|
||RoyalForestrySociety||(1,900)|
||StokeAthletic|75,000|4,200|
||NewVicTheatre|70,800||
||OutwardBoundTrust|5,000|81,090|
||Total|266,449|68,960|
||**SupportCosts: **
Officeservices|9,600|12,000|
||Insurance|1,070|1,336|
||Bankcharges|377|376|
||AuditandTaxationfees|8,500|10,080|
|||19,547|23,792|
||Total|285,996|92,752|
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|2|EXPENDITUREON:CHARITABLEACTIVITIES|||
|---|---|---|---|
||UNRESTRICTED(continued)|||
|||2020|2019|
|||£|£|
||**Grants committed analysis **|||
||Grants committed1January2020|417,673|473,474|
||Existinggrantreductions||(17,557)|
||Grantscommittedinyear|266,449|86,517|
|||266,449|68,960|
||Existinggrantspaid|(120,419)|(124,761)|
||Newgrantspaid|(150,224)||
|||(270,643)|(124,761)|
||Grantscommitted 31December2020|413,479|417,673|
|3|INVESTMENTMANAGEMENTCOSTS-|||
||ENDOWMENTFUNDEXPENDITURE|||
|||Yearended|Yearended|
|||31December|31December|
|||2020|2019|
|||£|£|
||Sorbus/CharlesStanleyinvestmentmanagercosts|78,528|77,082|
||NETINCOME/EXPENDITUREFORTHEPERIOD|||
||Netincome/expenditureisarrivedatafter chargingthefollowing:|||
||Auditor'sremuneration|8,500|8,520|
||Nonauditservicestaxation(toreview)||1,560|
|||8,500|10,080|
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||2020|2019|
|---|---|---|
|Quotedinvestments|£|£|
|FairvalueIJanuary2020|10,025,328|9,046,986|
|Gains|65,921|1,055,424|
|Purchaseofinvestments|3,098,464|582,009|
|Saleofinvestments|(2,713,260)|(1,418,699)|
|Cash(decrease)increase|(463,732)|759,608|
|Fairvalue ar31December2020|10,012,721|10,025,328|
||2020|2019|
||£|£|
|Analysisofinvestmentsbytype|||
|Cash|297,600|761,332|
|Bonds|220,689|853,858|
|Equities|8,349,409|7,150,839|
|Property|324,650|385,753|
|Commodities|820,373|873,546|
|Total|10,012,721|10,025,328|
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||2020|2019|
|---|---|---|
||£|£|
|Accruals|8,620|9,480|
|Grantsfallingduewithinoneyear|328,692|389,259|
||337,312|398,739|
|CREDITORS:Amountsfallingdueafteroneyear|||
||2020|2019|
||£|£|
|Grantspayableafteroneyear|84,787|28,414|
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||1January|Income|Expenditure|Netgains|31December|
|---|---|---|---|---|---|
||2020|£|£|£|2020|
||£||||£|
|EndowmentFund|10,025,328||(78,528)|65,921|10.012,721|
|UnrestrictedFunds|922,675|208,460|(285,996)||845,139|
|TOTALFUNDS|10,948,003|208,460|(364,524)|65,921|10,857,860|
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||Investments|Cashat|Creditors|NetAssets|
|---|---|---|---|---|
||£|bank|£|£|
|||£|||
|UnrestrictedFunds||1,267,238|(422,099)|845,139|
|EndowmentFund|10,012,721|||10,012,721|
|Totalnetassets|10,012,721|1,267,238|(422,099)|10,857,860|
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||2020|Future|
|---|---|---|
||GrantsPaid|Commitments|
|Grantsandcommitments|£|£|
|SCYP|20,000||
|StaffordshireCricket(2years)||50,000|
|TheOutwardBoundTrust|103,093|248,991|
|GWCTtertiaryeducation|51,750|13,899|
|RoyalForestrySociety||15,800|
|StokeAthletics|25,000|84,789|
|New VicTheatre|70,800||
|Totalcommitments|270,643|413,479|
||£||
||Since2014||
|Grantspaid|||
|2014|20,000||
|2015|80,000||
|2016|121,440||
|2017|157,407||
|2018|239,177||
|2019|124,761||
||742,785||
|2020|270,643||
||1,013,428||
|Commitmentsat31December2020|413,479||
||1,426,907||
|Total|||